Bizverse

Virtual Land, Real Deal – The boom as “dotcom”?

Real estate has already established itself as a large independent sector in the metaverse. Many celebrities, including Snoop Dogg, and large corporations, including HSBC, PwC, Samsung, and JP Morgan, have purchased property tracts in the metaverse for various purposes.

1. What is Metaverse Real Estate?

The metaverse is a unified virtual world where users can communicate with each other using 3D avatars and exchange information with the surrounding 3D reality via human-computer interactions (HCI).
As the metaverse shows promise as a virtual reproduction of the actual world, the concept of metaverse real estate is gaining traction. Users in the metaverse can use virtual environments to monetize goods and services and earn the money they want. Because land is available in the metaverse, purchasers and renters can develop monetized properties with distinct experiences.
Virtual-Land-Real-Deal-The-boom-as-dotcom
Virtual Land, Real Deal – The boom as “dotcom”?

2. Special features of Meta Real Estate

2.1. It redefines land value and utility.

Land is valued in the real world based on three key factors: size, location, and actual utility. However, in the Metaverse, one of these characteristics is less significant than the others: when buying digital real estate, real usefulness is less relevant because the buyer would never truly reside or visit the area.
Because the goal of purchasing land in the Metaverse is to either develop it or lease it to a third party, size and location become significantly more important determining criteria.

Virtual-Land-Real-Deal-The-boom-as-dotcom 2
Build houses and rent them out to third parties

2.2. It reimagines a wide range of real-world activities for use in the metaverse.

There is a strong push to rethink real-world activities for meta real estate as more property parcels become available for purchase. In the Metaverse, for example, trade events and exhibitions have been held, with large event spaces, sponsorships, and booths promoting monetization.
It would be a fully immersive experience with opportunities for hands-on participation, with no travel or commute required. Social gatherings, marriages, and collaborative work might all be relocated to the Metaverse, putting meta real estate to good use.
Virtual-Land-Real-Deal-The-boom-as-dotcom 2
Recreate business activities like real life

2.3. Investment opportunity for everyone

In the Metaverse, unlike in the actual world, anyone can invest. Land parcels are available in a number of shapes, sizes, and locations, and on a variety of platforms, each with a different price point.
Buyers from all over the world can open a crypto wallet and begin investing right away. There are no restrictions on purchasing global real estate, and micro land pieces are available at inexpensive prices.

3. Virtual Land, Real Deal – The boom as “dotcom”?

Consider it the ‘dotcom boom’: there has always been a rush to be the first to market with every significant disruptive technology. At the start of the dotcom era, domain names were traded at breakneck speeds, and virtual land sales are expected to follow a similar path.

VR technology is rapidly maturing — VR technology is maturing at a faster rate than other types of technology. By 2031, Meta’s metaverse platform is expected to have 1 billion users, which is less than a decade away.

There are investment alternatives for everyone, ranging from a few thousand dollars to several million dollars, and there is an increasing number of options at every price point. There are even metaverse mortgage providers to reduce the barriers to entry.

Virtual Land, Real Deal - The boom as "dotcom"?
Virtual Land, Real Deal – The boom as “dotcom”?

The value of virtual real estate, like actual estate, is determined by a number of factors, including the location as well as the sorts of experiences and goods available on the property. Virtual land parcels, on the other hand, have grown in importance as a type of digital asset. Where will metaverse real estate go from here? Find out more about the metaverse and the answers you’re looking for right now.